Apple now has the ability to stream Netflix content, a service not available in the country. Likewise, since the new Apple TV does not have any internal storage, you’ll have to rely on other devices in the house for media content — your Mac or PC, iPhone, iPod Touch, or the iPad via AirPlay.

And with the state of internet connectivity in the Philippines, I think streaming 720p content from iTunes Movie/TV rentals is nearly impossible if not a frustrating experience.

At least, the price has gone down considerably and now sell for just $99. As expected, it is not available on the Apple Philippines Online Store (what they offer is still the old 160GB Apple TV).